BASCS Primer - High-Level Guide for Businesses Purchasing Carbon Credits 4

BASCS Primer – High-Level Guide for Businesses Purchasing Carbon Credits

Jan 2023

To address the climate crisis and fulfill the collective vision of a 1.5°C
future established by the Paris Agreement, we must take immediate,
ambitious action to halve emissions by 2030 and accelerate an inclusive
transition to a global net-zero economy by 2050.

The Business Alliance to Scale Climate Solutions
(BASCS) is guided by four core principles—
1) emissions reductions, 2) ambition to action,
3) measurable impact, and 4) co-benefits—BASCS
prioritizes collaboration and knowledge-sharing to help
businesses begin and advance along their climate
funding journeys. This primer series is one example of
our commitment to sharing actionable knowledge and
is derived from the experiences of BASCS members.
BASCS aims to support corporate carbon credit buyers
by equipping companies with the tools, know-how,
and network to build high-quality and high-integrity
programs. This primer acts as a high-level guide and
outlines a seven-step process for purchasing carbon
credits for corporations in the voluntary carbon
market (VCM).

Carbon markets can serve as a tremendous channel
of climate finance to underserved communities
around the world and are an important tool for a just
transition to a net-zero economy. The private sector
can play an important role in improving and scaling
this climate solution by sending strong demand signals
for increased volume, integrity, and quality of carbon
credits available in the world. Purchasing high-quality
and high-integrity credits that adhere to rigorous carbon
accounting standards is a credible form of climate
action that can deliver multiple co-benefits beyond
climate mitigation when combined with investments in
deep emission reductions.